Labor Market Metrics in a Shutdown 10/1/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 1 October 2025

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hours into the first government shutdown in over six years, Punchbowl News co-founder Jake Sherman reports on the path forward for both sides of the aisle. The Bureau of Labor Statistics will not release its monthly employment report amid the shutdown, sending economists and investors elsewhere for labor market data. CNBC’s Steve Liesman shares September's ADP National Employment Report, and ADP’s chief economist Nela Richardson explains how her metrics–along with other datasets–help paint a picture of the labor market. Richardson’s takeaway: no matter the metric, hiring momentum has slowed. Plus, Berkshire Hathaway is reportedly exploring a purchase of Occidental Petroleum’s petrochemical business, FTC is suing Redfin and Zillow over antitrust concerns, and Walmart is eliminating artificial dyes in its store brand food products. Jake Sherman - 03:41 SteveLiesman - 14:10 Nela Richardson - 22:03 In this episode: Nela Richardson, @NelaRichardson Jake Sherman, @JakeSherman Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:03.0	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Today on Squawk Pod.
0:09.0	Midnight came and went.
0:11.0	The government is shut down.
0:13.0	Punchbowls, Jake Sherman.
0:14.0	I just don't see any situation in which Republicans are going to negotiate right now.
0:20.0	On what's next for members of the U.S. Senate who may just keep voting on the same thing
0:25.4	over and over.
0:26.8	And the tipping point is exhaustion.
0:28.7	And the high drama on Capitol Hill.
0:31.3	There's concern from Democrats and glee from Republicans.
0:34.5	It's so crazy.
0:35.7	Then, with no government, no government data?
0:39.5	The last jobs report that may matter for a while.
0:42.4	Payroll company ADP's chief economist, Nila Richardson, joins us with her number.
0:47.4	There has been a slowdown in the hiring momentum from the beginning of the year to where we are now.
0:53.9	Plus, antitrust allegations against the biggest names in real estate scrolling.
0:59.0	What's Warren Buffett's great line? Never ask your barber if you need a haircut.
1:03.0	And Walmart says, keep your red dye number whatever to yourself.
1:07.0	I don't think it would taste as good.
1:09.0	You're going to be forever tainted, but this is about saving the new generations. I know. You're a lost cause. I know. It's Wednesday, October 1st,
	...

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